Sands and colleague Mike Doyle negotiated the 124-acre transaction for the sellers, Guy, Donna and E. Bruce Strayhorn of Fort Myers. The land had been in the Strayhorn family's portfolio for more than 100 years, Sands says. Michigan-based Southland Investment Opportunities LLC paid $136,947 per acre or $3.14 per sf for the agricultural-zoned dirt at 5250 Luckett Road. The buyer plans to develop a light industrial park on the site after the land is rezoned.

"Location was the strong entitlement in this transaction," Sands tells GlobeSt.com. "It's one of the last large Interstate 75 development tracts" between Tampa and Naples. The city of Fort Myers could potentially annex the site and make it even more valuable, the broker says. Lee County currently provides water and sewer service along Luckett Road. "It's a fantastic site for future mixed-use development."

Sands says there is "very little" existing light industrial sites in the Luckett Road land's vicinity. The buyer tentatively plans to build the park in the rear of limited commercial development planned for the front of the site, the broker says. Commercial projects could include a bank, fast-food restaurant and undetermined retail space. The site is at the southeast corner of Interstate 75 and Luckett Road at Exit 139 in Fort Myers.